Capital at 1/1=215,000−65,000
=150,000
Capital at 31/12= 315,000−90,000
=225,000
Net income for the current year
225,000−150,000=75,000
Return on assets
75,000÷315,000=0.238×100=23.8%
Answer:
a. Determine the amount of depletion expense for the current year.
To find the depletion expense, we use the following formula:
Depletion
Expense = ( Cost - Salvage value / estimated n of units) x n of units extracted
Because we are not given any salvage value in the question, we will assume the salvage value is 0.
Plug the amounts into the formula to find the answer:
Depletion
Expense = (67,500,000 - 0 / 30,000,000) x 4,000,000
= 9,000,000
b. Journalize the adjusting entry on December 31 to recognize the depletion expense.
Account Debit Credit
Depletion Expense $9,000,000
Accumulated Depletion $9,000,000
Answer:
Atlas Company is fulfilling its employment needs by using Employee referrals as a recruiting source.
Explanation:
Here, it is given that Atlas company pay their worker $500 for the recommendations that results in hiring for further processes.
Also it is mentioned that in a period of two years, the company has hired at least of forty people through this hiring program.
So, The Atlas company is fulfilling its employment needs by using EMPLOYEE REFERRALS as their recruiting source.
Employee Referrals: an method for finding the job candidates internally within an organisation with the help of existing employees is termed as employee referrals
It can be stated that it is a structured program that all the different organisations and companies uses to search deserve and talented people and candidates from their existing working employees to suggest and recommend some brilliant and talented candidates from their networks.
A person who undertakes the danger of beginning a new business project is called an entrepreneur. An entrepreneur creates a company to comprehend their idea, recognized as entrepreneurship, which aggregates capital and labor in order to produce goods or services for profit.
<h3>What are the 4 types of entrepreneur?</h3>
The four types of entrepreneurs:
Coasting, possibility comes to them (or it doesn't)
Conservative (very moderate use of resources, defending current resources)
Aggressive (proactive, all-in, actively seeks opportunity)
Innovator/Revolutionary (attains growth thru innovation)
<h3>What is distinction between intrapreneur and entrepreneur?</h3>
An entrepreneur runs their very own company. They have whole freedom and duty -- for better or for worse. An entrapreneur is accountable for innovating within an current organization (usually a large one).
Learn more about entrepreneur here:
<h3>
brainly.com/question/13628349</h3><h3 /><h3>#SPJ4</h3>
Answer:
True
Explanation:
According to the American Economics Association, economics is the study of limited resources or scarcity. Many economists say people have unlimited wants and needs because it is an assumption that human beings are never satisfied at all. But this is an important and valid assumption because in many situations, more is better.
Also economics is the study of how people make choices and which incentivates people to make them.
